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401(k) & 403(b) Fiduciary Services to Small & Mid-sized Corporate Retirement Plans in Tampa, FL.

As part of a select group of advisors admitted into LPL's Retirement Plan Consulting Program (RPCP), our team consists of over 40 employees holding many Actuarial, Retirement, and Financial/Investment Credentials covering every facet of the qualified plan market.

At Success Wealth Management, we maintain full plan accountability through systems and processes governed by a robust technology platform that currently oversees 8,198 plans with over $69 billion in assets under management.

Our exclusive 401(k) Fiduciary Service Solution provides our Sponsors:

Fiduciary Support

For most individuals involved in the management of a plan, being a plan fiduciary is a secondary role to your main position at the company, and one you may or may not be experienced at doing. For those appointed to help manage the employee benefit plan, there are rules outlined in the Employee Retirement Income Security Act you must understand and adhere to. Here at Success Wealth Management, we help you understand and meet the regulations through the following fiduciary services:

  • 3(21) Investment Fiduciary Services
  • Identifying Plan Goals and Objectives
  • Assistance with establishing, running, and providing education to the Plan's Investment Committee
  • Investment Policy Statement Development and Plan Investment Reviews
  • ERISA 404(c) Compliance and Qualified Default Investment Alternative (QDIA) Assistance
  • Investment Selection and Monitoring Support
  • Legislative consultation and updates
  • Performance Reporting
  • Audit File Development and online Fiduciary Vault access
  • Enrollment Meetings and Participant Communications Support
  • Participant education on a variety of financial planning areas
  • Plan Search/Support/Vendor Due Diligence and Analysis
  • Provider reviews and Benchmarking
  • Expense Documentation & Analysis
  • Assistance Following Participant Communication Guidelines
  • Understanding Plan Documents
  • Plan Document Forensic Analysis before a merger/acquisition

Audit File Development

Keeping files organized and centrally located is key to demonstrating prudence in the management of your plan. In the case of an IRS or DOL audit, it’s important to be able to access your files and that they be current and accurate. We provide the following services to assist you in maintaining an appropriate audit file:

  • Audit file checklist listing all documents to keep centralized
  • System to store plan documents
  • Annual Checklists for keeping plan current and documents compliant

Expense Analysis and Plan Benchmarking

Plan sponsors must regularly review plan fees to ensure they remain reasonable and that the services still meet the needs of the plan. We provide the following services to help plan sponsors meet this requirement:

  • Quarterly investment expense analysis
  • Annual provider service contract review and fee analysis
  • Full Plan expense benchmarking every 3 years

Investment Selection and Monitoring

Market volatility makes it critical for retirement fiduciaries to develop and maintain investment due diligence procedures and supporting documentation. We will work with the retirement plan committee to help develop and maintain the plan’s investment strategy, which is defined in an investment policy statement.

We provide a comprehensive investment analysis by utilizing some of the most robust investment analytics available.

Performing this quantitative and qualitative analysis on a regular basis is essential to documenting compliance with Department of Labor guidelines and minimizing exposure to fiduciary liability.

Participant Enrollments and Ongoing Education

Participant Communication Services are an important part of our service model and include:

  • Pre-enrollment memos, posters and announcements
  • On-site group enrollment meetings
  • On-site individual enrollment meetings
  • On-site group investment education meetings
  • Targeted, personalized communications
  • Personalized gap analysis statements
  • Online access to account information
  • Dedicated customer service team to respond to participant account inquiries

If you are looking for an independent firm that can truly provide objective advice, at Success Wealth Management, we look forward to the opportunity to serve your 401(k) or 403(b) plan.